Cetera Investment Advisers Increases Stake in Enovis Corporation (NYSE:ENOV)

Cetera Investment Advisers raised its holdings in shares of Enovis Corporation (NYSE:ENOV) by 30.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 24,591 shares of the company’s stock after buying an additional 5,809 shares during the period. Cetera Investment Advisers’ holdings in Enovis were worth $940,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Mariner LLC increased its stake in shares of Enovis by 16.8% in the fourth quarter. Mariner LLC now owns 7,925 shares of the company’s stock worth $348,000 after purchasing an additional 1,142 shares in the last quarter. Comerica Bank increased its stake in shares of Enovis by 22.9% in the fourth quarter. Comerica Bank now owns 49,560 shares of the company’s stock worth $2,175,000 after purchasing an additional 9,224 shares in the last quarter. Adage Capital Partners GP L.L.C. purchased a new stake in shares of Enovis in the fourth quarter worth $10,970,000. Southeastern Asset Management Inc. TN increased its stake in shares of Enovis by 60.6% in the fourth quarter. Southeastern Asset Management Inc. TN now owns 36,583 shares of the company’s stock worth $1,605,000 after purchasing an additional 13,797 shares in the last quarter. Finally, Hood River Capital Management LLC purchased a new stake in shares of Enovis in the fourth quarter worth $29,024,000. 98.45% of the stock is owned by hedge funds and other institutional investors.

Enovis Price Performance

Shares of NYSE:ENOV opened at $28.74 on Wednesday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.15 and a current ratio of 2.25. The firm has a fifty day moving average price of $30.47 and a 200 day moving average price of $34.96. Enovis Corporation has a fifty-two week low of $25.47 and a fifty-two week high of $49.83. The firm has a market cap of $1.64 billion, a price-to-earnings ratio of -2.02 and a beta of 1.70.

Enovis (NYSE:ENOV) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.79 EPS for the quarter, beating the consensus estimate of $0.74 by $0.05. Enovis had a negative net margin of 37.80% and a positive return on equity of 6.78%. The business had revenue of $564.50 million during the quarter, compared to analyst estimates of $555.80 million. During the same quarter last year, the business earned $0.62 earnings per share. Enovis’s quarterly revenue was up 7.5% compared to the same quarter last year. As a group, sell-side analysts expect that Enovis Corporation will post 2.79 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on ENOV shares. Evercore ISI reduced their price objective on shares of Enovis from $48.00 to $46.00 and set an “outperform” rating for the company in a research note on Tuesday, July 8th. JMP Securities dropped their target price on shares of Enovis from $62.00 to $55.00 and set a “market outperform” rating for the company in a research report on Friday, May 9th. Canaccord Genuity Group dropped their target price on shares of Enovis from $70.00 to $58.00 and set a “buy” rating for the company in a research report on Friday, August 8th. Wells Fargo & Company dropped their target price on shares of Enovis from $48.00 to $41.00 and set an “overweight” rating for the company in a research report on Friday, August 8th. Finally, Needham & Company LLC dropped their target price on shares of Enovis from $57.00 to $49.00 and set a “buy” rating for the company in a research report on Thursday, August 7th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $51.00.

Enovis Company Profile

Enovis Corporation operates as a medical technology company focus on developing clinically differentiated solutions worldwide. It also manufactures and distributes medical devices which are used for reconstructive surgery, rehabilitation, pain management, and physical therapy. The company operates through Prevention and Recovery, and Reconstructive segments.